One of my all-time favorite blogs is GetRichSlowly. More than just a simple blog, GetRichSlowly is a comprehensive and full-fledged resource for learning about and managing personal finances. Today they have a great post on getting 2008 off on the right financial foot:

Develop a budget
After you’ve tracked your spending for a few weeks (or months), use the data you’ve collected to develop a budget. According to The Millionaire Next Door, budgeting is one thing that sets the wealthy apart from the rest of us — 55% of millionaires keep a budget. (…)

Start an emergency fund
For years I lived paycheck-to-paycheck. I spent everything I earned. This worked well until something went wrong. And something always went wrong. Suddenly I’d find myself without money to pay for a car repair, or facing an expensive doctor’s bill. I financed emergencies with credit cards. After years of carrying debt, I finally paid off all these emergencies last month. (…)

Get out of debt
Are you struggling under a heavy debt load from credit cards or student loans? Make it a priority to unload some of this this burden in 2008. Last month I said good-bye to 20 years of debt — it feels fantastic to have that weight off my shoulders. (…)

1. Track every penny you spend
2. Develop a budget
3. Start an emergency fund
4. Get out of debt
5. Open a retirement account
6. Spend less than you earn
7. Automate your finances
8. Educate yourself

This list has been severely abridged. To read the full list and full descriptions, view the original post at it’s source:

8 Ways to Take Control of Your Finances in 2008 (GetRichSlowly)